1、 HYPERLINK / 規范、專業、創新一、交易策略 HYPERLINK / 規范、專業、創新周末消息層面再添利好，證監會對兩融規則修改，一是取消了最低維130%1600(一)兩融標的關注度聚焦圖表 1：雪球網一周新注前十圖表 2：雪球網一周關增長率（%）前十雪球網一周新關注前十601318.SH中國平安雪球網一周新關注前十601318.SH中國平安6176600887.SH伊利股份4647600036.SH招商銀行4073600519.SH貴州茅臺4065000651.SZ格力電器3756002304.SZ洋河股份3639000001.SZ平安銀行3214600547.SH山東黃金2858

2、601166.SH興業銀行2762000063.SZ中興通訊2740雪球網一周關注度增速前十000975.SZ銀泰資源5.70300113.SZ順網科技5.45002237.SZ恒邦股份4.77600183.SH生益科技3.87603799.SH華友鈷業3.09002304.SZ洋河股份2.97600139.SH西部資源2.76601233.SH桐昆股份2.49600612.SH老鳳祥2.36603128.SH華貿物流2.24資料來源： Wind， 資料來源：Wind， 6說明市場情緒繼續保守觀望態勢。(二)機構關注度最高的標的TOP10（10圖表 3：全市場確定性評分前十位排名代碼名稱行業總

3、評分業績項評分市場評分估值評分1300014億緯鋰能其他電子95.3060.5024.0010.802002080中材科技化學制品92.5057.7024.0010.803300012華測檢測綜合88.6059.5021.008.104002353杰瑞股份專用設備87.9058.1019.0010.805600009上海機場機場87.2060.5024.002.706600801華新水泥水泥制造87.1059.3017.0010.80 HYPERLINK / 規范、專業、創新 HYPERLINK / 規范、專業、創新7603160匯頂科技半導體87.1055.5023.508.10800246

4、3滬電股份元件86.9052.1024.0010.809600763通策醫療醫療服務85.7553.6524.008.1010002690美亞光電專用設備85.0557.2517.0010.80鑫融訊精品版資料來源：go-goal， 鑫融訊精品版(三)未來一個月兩融標的解禁壓力一覽代碼簡稱解禁日期解禁數量(代碼簡稱解禁日期解禁數量(萬股)占 A 股總股本(%)解禁股份類型688321.SHN 微芯2019-08-124,057.839.90%首發一般,機構配售股600516.SH方大炭素2019-08-152,821.911.04%股權激勵一般股份600716.SH鳳凰股份2019-08-15

5、2,583.982.76%定向增發機構配售股份002092.SZ中泰化學2019-08-153,780.821.76%定向增發機構配售股份601997.SH貴陽銀行2019-08-16130,739.4840.63%首發原股東限售股份002129.SZ中環股份2019-08-163,902.441.40%定向增發機構配售股份002640.SZ跨境通2019-08-19160.000.10%追加承諾限售股份上市流通601018.SH寧波港2019-08-1937,284.782.83%定向增發機構配售股份600332.SH白云山2019-08-1933,471.1720.59%定向增發機構配售股

6、份002371.SZ北方華創2019-08-229,684.9621.15%定向增發機構配售股份600711.SH盛屯礦業2019-08-2315,096.286.54%定向增發機構配售股份600021.SH上海電力2019-08-2620,750.707.93%定向增發機構配售股份601727.SH上海電氣2019-08-2960,684.344.00%定向增發機構配售股份600604.SH市北高新2019-08-297,327.013.91%定向增發機構配售股份601128.SH常熟銀行2019-09-0290.690.03%首發原股東限售股份600831.SH廣電網絡2019-09-02

7、4,152.925.86%定向增發機構配售股份600545.SH卓郎智能2019-09-0544,854.1323.66%定向增發機構配售股份600293.SH三峽新材2019-09-0564,537.8155.53%定向增發機構配售股份002229.SZ鴻博股份2019-09-06535.711.07%定向增發機構配售股份600155.SH華創陽安2019-09-096,410.263.68%定向增發機構配售股份600797.SH浙大網新2019-09-121,712.771.62%定向增發機構配售股份601996.SH豐林集團2019-09-1212,601.4911.00%定向增發機構配

8、售股份601636.SH旗濱集團2019-09-122,432.360.90%股權激勵限售股份資料來源：Wind， (四)雙融標的股權質押比例前20近期受市場因素影響，質押率較高的個股較質押率低的個股風險要大的多圖表 5：股權質押比例前 20證券代碼證券簡稱質押股份數量（萬股）質押比例（%）較上周（+/-）%000723.SZ美錦能源297947.8772.820000046.SZ泛?？毓?65997.1270.440002252.SZ上海萊士340812.9368.510 HYPERLINK / 規范、專業、創新 HYPERLINK / 規范、專業、創新000732.SZ泰禾集團163202

9、.7565.570600293.SH三峽新材73377.1763.140002437.SZ譽衡藥業135235.4661.520600146.SH商贏環球28640.3260.94-0.1600515.SH海航基礎237984.3560.90000671.SZ陽光城244748.4860.430002118.SZ紫鑫藥業74533.3158.19-0.07002424.SZ貴州百靈80584.3157.10000415.SZ渤海租賃347627.0956.21-0.21603766.SH隆鑫通用112403.8454.740002470.SZ金正大173526.2252.81-0.016003

10、31.SH宏達股份106612.152.470600157.SH永泰能源646213.8752.010000928.SZ中鋼國際64930.1351.670300202.SZ聚龍股份28179.651.280600175.SH美都能源181906.550.86-0.06601216.SH君正集團421150.4449.910資料來源：Wind， 2050.10.070.210.010.0660.94%58.19%56.21%52.81%50.86%372.82%、70.44%68.51%從上周質押率變化來看，質押率偏高的個股質押率繼續呈現下降態勢，說明市場依舊保持謹慎態度。二、兩融市場概況上周

11、（85-9）受中美貿易摩擦加劇等外部因素的影響，各大指3.25%3.74%1891.252.067.80%19891.43%，1.54%8808.29137.985117.507.71%13.999.30%。1.24%1.72%5414.773511.02圖表 6：兩融市場概況16,000.0014,000.0012,000.0010,000.008,000.006,000.004,000.002,000.000.003,640.003,620.003,600.003,580.003,560.003,540.003,520.003,500.003,480.003,460.003,440.00

12、HYPERLINK / HYPERLINK / 規范、專業、創新滬深兩融余額(億元)滬市兩融余額(億元)深市兩融余額(億元)資料來源：Wind， 從個股上看，上周融資余額前 3 位分別是中國平安、興業銀行和中信230.58115.22101.092.52%3.25%37.664.745.90%、0.34%0.03%。證券代碼證券簡稱最新融資余額（億元）占流通市值(%)601318.SH中國平安230.582.52601166.SH興業銀行115.22證券代碼證券簡稱最新融資余額（億元）占流通市值(%)601318.SH中國平安230.582.52601166.SH興業銀行115.223.256

13、00030.SH中信證券101.094.95000725.SZ京東方A87.146.92600016.SH民生銀行83.304.06600519.SH貴州茅臺78.160.65300059.SZ東方財富77.3510.87000651.SZ格力電器51.361.72600837.SH海通證券43.434.27600352.SH浙江龍盛41.459.59證券代碼證券簡稱最新融券余額（億元）占流通688009.SH中國通號7.665.90601688.SH華泰證券4.740.34600519.SH貴州茅臺3.220.03601318.SH中國平安2.390.03688099.SH晶晨股份1.823

14、.25600837.SH海通證券1.730.17600036.SH招商銀行1.730.02688016.SH心脈醫療1.687.33688088.SH虹軟科技1.586.05688008.SH瀾起科技1.462.62資料來源：Wind， 資料來源：Wind， 365.48%、55.09%51.721.635.571.01316859.34%、10660.85%4701.65%至10.80 萬元、2.53 萬元和 2.63 萬元。證券代碼證券簡稱最新融資余額（億元）變化比例（%）600346.SH恒力石化1.6365.48603799.SH華友鈷業5.5755.09688001.SH華興源創1.

15、01證券代碼證券簡稱最新融資余額（億元）變化比例（%）600346.SH恒力石化1.6365.48603799.SH華友鈷業5.5755.09688001.SH華興源創1.0151.72002493.SZ榮盛石化6.1041.50688028.SH沃爾德0.8536.16688333.SH鉑力特0.5224.51002129.SZ中環股份15.8021.78001979.SZ招商蛇口10.8221.67600183.SH生益科技8.1820.65603589.SH口子窖0.3717.23證券代碼證券簡稱最新融券余額（萬元）變化比例（%）002401.SZ中遠?？?0.8016859.34601

16、101.SH昊華能源2.5310660.85600616.SH金楓酒業2.634701.65000825.SZ太鋼不銹125.893914.48603799.SH華友鈷業253.063895.44000551.SZ創元科技6.042983.10300157.SZ恒泰艾普29.461524.88600022.SH山東鋼鐵524.161272.77601126.SH四方股份5.401053.80000554.SZ泰山石油36.33886.08 HYPERLINK / 規范、專業、創新資料來源：Wind， 資料來源：Wind， 325.47%21.33%18.17%3.320.393全部的融券。證券

17、代碼證券簡稱最新融資余額（億元）變化比例（%）002597.SZ金禾實業3.32-25.47002032.SZ蘇泊爾0.39-21.33600707.SH證券代碼證券簡稱最新融資余額（億元）變化比例（%）002597.SZ金禾實業3.32-25.47002032.SZ蘇泊爾0.39-21.33600707.SH彩虹股份3.78-18.17600018.SH上港集團12.70-17.15600284.SH浦東建設2.96-16.01688188.SH柏楚電子0.91-15.75002353.SZ杰瑞股份3.76-15.05603128.SH華貿物流3.10-14.29000938.SZ紫光股份8

18、.25-14.26688010.SH福光股份0.80-13.86證券代碼證券簡稱最新融券余額（萬元）變化比例（%）001872.SZ招商港口0.00-100.00600467.SH好當家0.00-100.00601002.SH晉億實業0.00-100.00002161.SZ遠望谷0.00-100.00002261.SZ拓維信息0.00-100.00000899.SZ贛能股份0.00-100.00600335.SH國機汽車0.00-100.00600078.SH澄星股份0.00-100.00002267.SZ陜天然氣0.00-100.00600495.SH晉西車軸0.04-99.07資料來源：W

19、ind， 資料來源：Wind， 40056.79%，行業集中度繼續有所提升。285.823 18.7217.5914.2431011.532310.975680.93融資凈償還數來看，說明市場悲觀情緒濃重。 HYPERLINK / 規范、專業、創新圖表 13 HYPERLINK / 規范、專業、創新融資凈買入額(萬元)100,000.0050,000.00綜合銀行機械設備鋼鐵建筑材料國防軍工公用事業建筑裝飾食品飲料房地產交通運輸醫藥生物計算機非銀金融電子-50,000.00-100,000.00-150,000.00-200,000.00資料來源：Wind， 34.112.542.073878

20、.12795.62510.27券凈賣出行業個數的增加一定程度上說明市場悲觀情緒略依舊濃重。圖表 14：行業融券凈賣出(萬元)融券凈賣出額(萬元)45,000.0040,000.0035,000.0030,000.0025,000.0020,000.0015,000.0010,000.005,000.00計算機電子計算機電子房地產-5,000.00資料來源：Wind， 89324.66%20.13%20圖表 15：兩融余額占流通市值比排名前二十的股票證券代碼證券簡稱兩融余額(萬元)兩融余額占流通(%)融資凈買入額(萬元)融券凈賣出額(萬元)申銀萬國行業300157.SZ恒泰艾普65322.472

21、4.66-1552.5028.30采掘服務300273.SZ和佳股份63203.8022.85-1856.23-3.87醫療器械002369.SZ卓翼科技56753.9520.13-2504.75-2.14電子制造300079.SZ數碼科技116695.7419.85-4621.754.92計算機應用300355.SZ蒙草生態82937.9619.79-2325.46-143.23園林工程600257.SH大湖股份34938.8319.71-908.860.00漁業600218.SH全柴動力73551.7518.33-2924.11-27.92通用機械600470.SH六國化工43840.32

22、18.31474.03-99.31化學制品600692.SH亞通股份30483.3818.28-841.150.96房地產開發002148.SZ北緯科技40704.3417.96-706.598.45互聯網傳媒000790.SZ泰合健康44892.6017.78486.150.00中藥000551.SZ創元科技42463.4617.75-405.205.98專用設備600668.SH尖峰集團67818.6817.43-410.270.58水泥制造600543.SH莫高股份34394.0317.16-412.02-0.01飲料制造002325.SZ洪濤股份45844.7417.06-485.46

23、0.00裝修裝飾002067.SZ景興紙業49849.2716.76-931.930.00造紙000404.SZ長虹華意44570.4916.75-98.741.27白色家電600568.SH中珠醫療41593.6016.72-2210.370.00房地產開發000537.SZ廣宇發展41581.7116.55869.037.31房地產開發000851.SZ高鴻股份67034.7616.51-1509.53-7.41通信設備資料來源：Wind， 圖表 16:信用賬戶新增戶數（戶）圖表17：信用賬戶新增戶數（戶）90,00080,00070,00060,00050,00040,00030,000

24、20,00010,0002018-072018-082018-092018-102018-112018-122019-012019-022019-032019-042019-0502018-072018-082018-092018-102018-112018-122019-012019-022019-032019-042019-05個人機構9008007006005004003002001002019-062019-0702019-062019-076,0005,0004,0003,0002,0001,0000個人機構300250200150100502018-072018-082018-07

25、2018-082018-092018-102018-112018-122019-012019-022019-032019-042019-052019-062019-07 HYPERLINK / HYPERLINK / 規范、專業、創新資料來源：Wind， 資料來源：Wind， 截止 19 年 7 月，信用賬戶數繼續保持增長，信用賬戶累計投資者合計 HYPERLINK / 規范、專業、創新498.4130265296915741973768230 HYPERLINK / 規范、專業、創新ETF1989631073.032.80額環比減少 4.47 億元至 1033.92 億元；融券余額環比增加

26、1.67 億元至39.113HETF、華夏恒生ETFETFETF2.15500ETF1.38圖表 18：ETF兩融概況兩融余額占場內總額(%)600.00500.00400.00300.00200.00100.000.00資料來源：Wind， 圖表 19ETF證券代碼證券簡稱兩融余額(萬元)融資凈買入額(萬元)融券凈賣出額(萬元)兩融余額占場內總額(%)510900.SH易方達恒生H股ETF2,416,550.56-9,765.940.00363.11159920.SZ華夏恒生ETF1,841,437.4018,505.4121.28477.39510050.SH華夏上證50ETF1,489,

27、477.97-3,454.303,401.2535.79518880.SH華安黃金ETF1,473,260.30-26,876.40-383.38206.95510300.SH華泰柏瑞滬深300ETF1,280,044.40-10,241.5012,742.9038.31510500.SH南方中證500ETF503,822.941,638.2413,829.9511.35159934.SZ易方達黃金ETF416,607.6921,502.910.00235.32159937.SZ博時黃金ETF356,756.12-2,896.550.00108.78513500.SH博時標普500ETF264

28、,276.31-831.640.00260.05513100.SH國泰納斯達克100ETF222,002.58-3,133.630.00356.58159919.SZ嘉實滬深300ETF111,826.00-664.47-123.694.54 HYPERLINK / 規范、專業、創新 HYPERLINK / 規范、專業、創新513050.SH易方達中證海外互聯ETF84,029.09-460.93-2.6297.19512880.SH國泰中證全指證券公司ETF66,214.00-13,524.120.007.19159915.SZ易方達創業板ETF37,832.11-5,203.430.001

29、.79512000.SH華寶中證全指證券ETF25,539.83-3,673.060.007.31510180.SH華安上證180ETF20,413.19-376.88-0.491.08513030.SH華安德國30(DAX)ETF19,093.41-2,814.190.0038.55159949.SZ華安創業板50ETF18,027.60-1,621.240.002.47159901.SZ易方達深證100ETF16,116.96-2,026.02-83.782.69510330.SH華夏滬深300ETF10,538.65958.89584.090.40512500.SH華夏中證500ETF1

30、0,115.94139.161,348.641.68512660.SH國泰中證軍工ETF7,713.74391.690.003.80512800.SH華寶中證銀行ETF5,459.34-303.300.003.92159952.SZ廣發創業板ETF4,619.32437.990.002.84159902.SZ華夏中小板ETF3,963.31-37.8281.432.07510880.SH華泰柏瑞紅利ETF2,718.76-148.500.001.00159939.SZ廣發中證全指信息技術ETF2,437.34-266.280.001.75159938.SZ廣發中證全指醫藥衛生ETF2,208.

31、76-185.830.000.95512980.SH廣發中證傳媒ETF2,107.81238.210.001.97510310.SH易方達滬深300ETF1,576.09191.850.000.20159928.SZ匯添富中證主要消費ETF1,487.40-13.180.000.48512010.SH易方達滬深300醫藥衛生ETF1,474.38-167.260.001.80512070.SH易方達滬深300非銀ETF1,472.39140.270.000.97159922.SZ嘉實中證500ETF1,440.5848.490.000.61510510.SH廣發中證500ETF1,371.694159905.SZ工銀瑞信深證紅利ETF1,186.53-205.530.000.91512580.SH廣發中證環保產業ETF941.1648.190.000.57510230.SH國泰上證180金融ETF908.88-